180% Rally In 3 Yrs; Small Cap Stock Sets Record Date For 1:1 Bonus Shares

For its eligible shareholders, Maruti Interior Products Ltd, a small cap company with a market worth of Rs 145 Cr, has recommended bonus shares in a 1:1 ratio. The consumer discretionary company Board of Directors has also declared a record date for this purpose in order to ascertain the shareholders' eligibility for the aforementioned corporate action.

"This is to inform you that the Company has received ln-principle approval from BSE Limited vide letter reference number LOD/Bonus/TP/TT/764/2023-24 dated October 16, 2023 for proposed bonus equity share in the ratio of 1 (one) new equity share for 1(one) equity share held in the company as on record date i.e. Friday, October 27 2023," said Maruti Interior Products in a stock exchange filing.

The Board of Directors gave the go-ahead on Tuesday to the proposed issue and allocation of up to 75,50,000 bonus equity shares, each worth Rs. 10, at a ratio of 1 new equity share for every existing equity share held by a shareholder of the company.

On a consolidated basis, the company said its net revenue was Rs 38.18 Cr in FY23 compared to Rs 28.02 Cr in FY22. Its net expenses stood at Rs 32.73 Cr in the financial year 2023 as against Rs 23.91 Cr in the financial year 2022. Maruti Interior Products said its consolidated net profit reached Rs 4.06 Cr in FY23 up from Rs 2.99 Cr in FY22. On a standalone basis, the company's revenue from operations stood at Rs 39.17 Cr in FY23 compared to Rs 28.02 Cr in FY22 and its expenses stood at Rs 33.46 Cr in FY23 as against Rs 23.91 Cr in FY22. Maruti Interior Products said on a standalone basis the company's PAT was Rs 4.32 Cr compared to Rs 2.99 Cr in FY22.

On Tuesday, the shares of Maruti Interior Products opened at Rs 198 apiece and were trading with an upside gap of 3.65% at Rs 199 while publishing the copy. The scrip made a 52-week-high of Rs 218.95 on (31/08/2023) and a 52-week-low of Rs 131.30 on (27/03/2023), implying that at the current market price, the scrip is trading at a discount of 9.10% from its 1 year high and with an upside of 51.56% from its 1 year low. During Q4FY23, the company reported promoters' shareholding of 74.72% and a public stake of 25.28%.